How Do I Set Up a Crypto Wallet?

Don’t know how to set up a cryptocurrency wallet? No worries, you have come to the right place. A crypto wallet allows you to buy, sell and store crypto currencies: it works quite similarly to physical wallet in your pocket. In order to perform crypto transaction, you first need to pick the right digital wallet. There’re different types of wallets available online: software wallets, paper wallets and hardware wallets. Each wallet is comprised of unique private keys allowing you to spend or transfer digital currency. Let’s have a look at the different types of wallets you can choose:

Software wallets – It’s a digital wallet that allows you to perform transactions online. However, it’s more susceptible to hacking attempts.

Physical wallets – These types of wallets are used to keep your funds safe offline. You can receive digital currency using your physical wallet, but you will need to move your digital currency to a hosted or software wallet online to spend them.

Hosted wallets – They are operated by a 3rd company and works almost the same like software wallets. All you need is to pick the right, reliable third party company before hiring them.

Setting up a digital wallet is super simple. All you need is to provide your details like E-mail, Name and Password. Once the singing up process is complete, you will receive a confirmation email to verify your account. There’s no rocket science is required to set up a wallet. Anyone with even low tech know how can comprehend the whole procedure quite easily.

How you look at crypto wallets? Have something to add to this story? Please feel free to let us know your thoughts in the comment box below.